Northern Financial Advisors Inc Cuts Stock Holdings in DTE Energy (NYSE:DTE)

Northern Financial Advisors Inc decreased its position in DTE Energy (NYSE:DTE) by 45.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,560 shares of the utilities provider’s stock after selling 2,971 shares during the period. Northern Financial Advisors Inc’s holdings in DTE Energy were worth $392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in DTE Energy by 16.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after acquiring an additional 724,561 shares during the period. Barclays PLC lifted its holdings in shares of DTE Energy by 29.2% in the third quarter. Barclays PLC now owns 670,592 shares of the utilities provider’s stock worth $66,577,000 after buying an additional 151,507 shares in the last quarter. Invesco Ltd. boosted its position in shares of DTE Energy by 6.6% in the third quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock valued at $221,314,000 after acquiring an additional 137,960 shares during the period. ING Groep NV grew its stake in DTE Energy by 307.2% during the third quarter. ING Groep NV now owns 119,884 shares of the utilities provider’s stock valued at $11,902,000 after acquiring an additional 90,442 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in DTE Energy by 25.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 427,350 shares of the utilities provider’s stock worth $42,427,000 after acquiring an additional 88,000 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Wolfe Research downgraded DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Scotiabank decreased their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Finally, Morgan Stanley increased their price target on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

DTE Energy Stock Up 0.8 %

Shares of DTE traded up $0.91 on Wednesday, reaching $114.25. The stock had a trading volume of 250,876 shares, compared to its average volume of 1,168,794. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The company has a 50-day simple moving average of $109.74 and a 200-day simple moving average of $106.98.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. Sell-side analysts predict that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.57%. DTE Energy’s payout ratio is 66.78%.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.